By: Courtney Goldsmith

I am a journalist for City A.M. reporting on the energy and mining sectors. I also keep an eye on the pharmaceuticals sector and cryptocurrencies. Email: courtney.goldsmith@cityam.com

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Gold prices have hit a two-week high as the US dollar continues to edge lower

March 20, 2017

Gold has built on gains made last week as the US dollar slides to six-week lows. The yellow metal edged up $5.30 to $1,235.50 per ounce, hitting a two-week high, after making substantial gains following the Federal Reserve's decision to hike interest rates last week. "Gold has continued its rally that began after Wednesday’s Fed meeting, with the fresh [...]
Bitcoin is back above $1,000 after plunging below $950 over the weekend

March 20, 2017

Bitcoin rose back over $1,000 last night after it lost nearly a fifth of its value over the weekend. The cryptocurrency fell to a low of $943.06 over the weekend as a split in its developer community threatened its future. The currency was trading at $1,019.05 this morning compared with highs of more than $1,200 last week. Bitcoin transactions are gathered into so-called "blocks", [...]
The White House is now suggesting Britain’s GCHQ spied on Donald Trump

March 16, 2017

The White House press secretary has now suggested British agents could have helped former President Barack Obama spy on Donald Trump. Sean Spicer echoed a claim originally made by an analyst on Fox News that GCHQ spied on Trump Tower during the US election. "He's able to get it and there's no American fingerprints on it," [...]
Snapchat owner Snap’s shares close below $20 for the first time

March 16, 2017

The parent company of messaging app Snapchat's shares closed lower yet again today as the tech sensation fails to wow investors. Stock in Snap fell below $20 for the first time, closing down 4.24 per cent at $19.89 and edging closer towards the firm's original offer of $17 per share. The company's shares jumped 40 per cent on its first day of [...]
Ineos is in talks to buy BP’s Forties pipeline system in the North Sea

March 16, 2017

Chemicals giant Ineos is in talks to buy a significant North Sea pipeline from BP. The Forties pipeline system, which is one of the oldest and largest in the North Sea, is about 100 miles long and transports around 450,000 barrels of oil a day, which is about 40 per cent of UK production. Spokespeople [...]
Former Barclays boss Bob Diamond is readying a return to the City as part of a Qatar-backed takeover bid for Square Mile stockbroker Panmure Gordon

March 16, 2017

Bob Diamond, the former chief executive of Barclays, is reportedly set to launch a takeover bid for Panmure Gordon, one of Britain's oldest stockbrokers. Diamond's private equity firm, Atlas Merchant Capital (AMC), and QInvest, a Qatari investment bank that currently owns 43 per cent of Panmure, will create a bid vehicle to make an offer, according [...]
Buy-to-let bonds could be hit by falling rents in London and the south east, Moody’s warns

March 16, 2017

Falling rents in London and the south east could hurt buy-to-let bonds, ratings agency Moody's has said. Earlier this week it emerged rent increases for tenants across the UK have fallen to their lowest since 2013 as prices in London dropped for the ninth month in a row. Average rents in London declined 4.7 per cent year-on-year while [...]
The Institute of Directors (IoD) is reviving its Brussels branch to forge connections ahead of Brexit

March 16, 2017

The Institute of Directors (IoD) has revived its Brussels branch, proving that, indeed, it is possible to do a quick deal with the EU. The Brussels arm will work to forge bonds between internationally-focused British and Belgian business people, which will be vital after Brexit, said Stephen Martin, director general of the IoD. "The EU will continue to be the UK’s single [...]
Germany’s finance minister has called for London to remain a “strong” finance centre after Brexit

March 16, 2017

The German finance minister has given the City a strong vote of confidence ahead of Brexit negotiations, saying it's in the EU's best interest that London remains a strong financial centre after Brexit. Wolfgang Schaeuble said he would want to negotiate a deal in which the City remains a centre of finance as any move [...]
Jones Bootmaker administration: Kurt Geiger and Endless eye up struggling shoe brand

March 15, 2017

As Jones Bootmaker sits on the brink of administration, upmarket shoe retailer Kurt Geiger and Endless, the turnaround firm that owns Bathstore, are reportedly among suitors poised to swoop in to the 150-year-old firm’s rescue. The two are in discussions with advisers to Jones’ owners about deals that would potentially save hundreds of jobs, Sky News reported. [...]

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By: Courtney Goldsmith

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